TORONTO, ONTARIO--(Marketwire - Oct. 18, 2012) - Prime Dividend Corp. ("Prime Dividend") declares its regular monthly distribution of $0.06250 (5.00% annualized) for each Class A share which reflects the distribution policy of prime rate in Canada (3.00% as at October 15, 2012) plus 2% annually. Prime Dividend also declares its regular monthly distribution of $0.04167 (5.00% annualized) for each Preferred share which reflects the distribution policy of prime rate plus 0.75% annually. An annual Class A and Preferred share payment of 5.00% is the minimum payment as per the prospectus. Distributions are payable November 9, 2012 to shareholders on record as of October 31, 2012.
Since inception Class A shareholders have received a total of $6.04 per share and Preferred shareholders have received a total of $3.89 per share inclusive of this distribution, for a combined total of $9.93 per share.
Prime Dividend invests in a portfolio of high yielding Canadian Companies as follows:
| Banks |
|
Investment Management |
|
Life Insurance |
|
Utilities & Other |
| Bank of Montreal |
|
AGF Management Ltd. |
|
Great-West Lifeco Inc. |
|
BCE Inc. |
| Bank of Nova Scotia |
|
CI Financial Corp. |
|
Manulife Financial Corp. |
|
TransAlta Corp |
| CIBC |
|
IGM Financial Inc. |
|
Sun Life Financial Inc. |
|
TransCanada Corp |
| National Bank of Canada |
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|
Power Financial Corp. |
| Royal Bank of Canada |
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TMX Group Inc. |
| Toronto-Dominion Bank |
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Shares held within the Portfolio will generally represent no less than 4% and no more than 8% of the net asset value.
| Distribution Details: |
|
| Class A Share (PDV) |
$0.06250 |
| Preferred Share (PDV.PR.A) |
$0.04167 |
| Ex-Dividend Date: |
October 29, 2012 |
| Record Date: |
October 31, 2012 |
| Payable Date: |
November 9, 2012 |